Precision’s revenue was essentially flat compared with last year, rising less than one per cent to $484.4 million from $484.8 million, and net income was down 25 per cent to $29.4 million from $39.4 million.

Cash provided by operations was up, however, rising to $88.3 million from $61.2 million a year earlier.

On the Toronto Stock Exchange, Precision shares were down 30 cents, or 2.75 per cent, at $10.60 in mid-afternoon trading Thursday.